New York mayor Eric Adams said that he will make sure that a Bitcoin link is launched in the city and has renewed his Hache of the Bitlidense program in New York.
Speaking during the Bitcoin 2025 conference, Adams undertook to defend and support the creation of municipal obligations supported by Bitcoin (BTC).
“We have financial instruments for all other obligations. You can have exempt bonds of tax and other obligations. It is time for the first time in the history of this city to have a financial instrument designed for those who are Bitcoin holders,” he said.
“I think we have to have a bitbond, and I will push and fight to get a Bitbond in New York so that you can make these same bond investments in New York.”
Adams has not shared details on the operation of a bitbond; However, a political document of March 31 of the advocacy group, Bitcoin Policy Institute, proposed a model where holders receive an annual interest rate of 1% for 10 years.
When the obligation matures, the holders also receive a percentage of any Bitcoin market gain. At the same time, 90% of the funds collected by the bonds are allocated to public spending, while 10% is used to buy Bitcoin, according to the Bitcoin Policy Institute’s Bitcoin Policy.
Adams grows again at Ax Bitlicense
Adams also called for the repeal of the New York Bitlidense program, which the State launched in 2015 and requires that cryptographic companies apply for a license with the New York Department of Financial Services and meet strict compliance standards.
The Bitlidense program has received criticism from industry, and Adams also said that the measure was too expensive with high license fees, and is too strict with its fight against money laundering and knows your customer measures.
“You have a mayor who is the mayor of the crypto, is the mayor of Bitcoin, and I want you to return to the city of New York, where you will not be attacked and criminalized,” he said.
“Let us get rid of the Bitcoin license and allow ourselves to have the flow of bitcoin in our city.”
In relation: The mayor of New York Double on Crypto Push before City Summit
The USDC Stablecoin Emitter Circle was one of the first Crypto companies to receive an applied bit; Others have since followed, notably Crypto Exchange Coinbase and the Bakkt negotiation company.
Adams has actively prompted to attract cryptographic companies to New York. As part of his most recent efforts, Adams said at the first summit of New York cryptography on May 20 that he created digital advisory council to attract jobs and investments.
Meanwhile, on May 12, Adams announced that the financial services company and the capital-investment companies Traction and Scale would help the city in its crypto efforts.
Review: Crypto City: New York Guide
